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Go to the Bureau of Labor Statistics (BLS) page on Quarterly Labor Productivity and get the latest news. Does what you found make sense to you? Why or why not?
Calculate a new consumer price index for the data. Compute the current year's cost of the market basket and the value of the current year's price index.
Compared to the fixed-price weighting system, how does the chain-weighted system better account for the economic incentives provided by price changes?
How might this index be biased by quality and substitution effects? Are there any substitutes for health care?
The Bureau of Labor Statistics currently produces only indexes for all urban households. Analyze why should the BLS produce such an index for the elderly?
(GDP and Depreciation) What is gross about gross domestic product? Could an economy enjoy a constant-or growing-GDP while not replacing worn-out capital?
Home computers and DVD players have not been part of the U.S. economy. What problems does this pose for people responsible for calculating a price index?
Analyze How would a more generous unemployment insurance system affect the full employment figure?
Why does the overall unemployment rate provide an accurate picture of the impact of unemployment on all U.S. population groups?
Look in section C of the paper the day after a major piece of economic information was released to see how the stock market reacted to the news.
What do the latest available data tell you about the current rate of inflation and current rate of GDP growth? Is the economy in a recession or an expansion?
What was the value of the consumer price index in the base year? Calculate the annual rate of consumer price inflation in 2004 in each of the given situations?
How does the poverty rate there compare with the overall rate in your state and in the United States as a whole?
(Case Study: Is Welfare-to-Work Working?) Discuss the key features of welfare reforms introduced by the federal government in 1996.
Analyze how does the implicit tax on earned income affect work incentives? How do some people avoid the implicit tax?
(Poverty and Public Choice) Why is it difficult to pass legislation to reduce Social Security or Medicare benefits?
However, poverty among that portion of the U.S. population that is less than 18 years old. Why have the experiences of these two age groups differed?
How does the U.S. Department of Agriculture calculate the official poverty level? What programs are ignored?
List some reasons why household incomes differ. Which factors are the most important?
Use marginal social cost and marginal social benefits lines to illustrate the optimal level of water quality in any particular area.
Suppose the government mandates control efforts that result in a higher level of quality. Illustrate the social waste associated with making water too clean.
Draw a downward sloping demand for paper and a horizontal marginal private cost curve at $20. Identify the private-sector equilibrium level of output of paper.
Are businesses taking steps to "internalize" externalities? What role does technology play in controlling negative externalities?
Analyze why does the United States have an absolute advantage in both goods? Which country enjoys a comparative advantage in food? Why?
(Case Study: Bush's Steel Tariffs) How did Bush's steel tariff affect the domestic steel industry, the workers in the steel industry, and consumers?